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Technical Forecast for Silver

Silver reached resistance at 24.79/80 as predicted & topped almost exactly here at 24.86. An end to the rally is possible now at this stage & we can exit longs & try shorts with stops above 25.00. However a break higher today could then target 26.00/10. Here we meet the 200 day moving average & should find this area a struggle.

Failure to beat 24.80 should trigger profit taking for a move towards 24.35/30. Watch for a low for the day here but if we continue lower the next support is seen at 23.95/90. Exit shorts & try longs expecting a bounce from here but with stops below 23.80.

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